The reopening of the property market following weeks of lockdown has spurred numerous people on to looking into moving house. Equally, the reopening of pubs has seen many of us heading out in search of a pint or other refreshment, and perhaps the chance to catch up with friends we haven’t seen for ages while relaxing in a beer garden.
But could there be a connection between the two? We all know that having good facilities like decent schools and shops in a neighbourhood can do wonders for house prices – but what about the humble pub?
After all, such places are the heart and soul of many a rural area, plus they’re part of our national culture and heritage. In some cases, given the tough times the licensed industry is facing, local people have even joined forces to save threatened inns from enforced closure. These are ‘community pubs’, and demonstrate how vital such places are to villages.
So perhaps it’s not that surprising that, according to the property pages of some national papers, having a great local is starting to form a part of some buyers’ property hunts. And it’s not outrageous to suggest that, while of course many different factors come into play when determining house value, a great local could have an impact on price too.
One national chain of estate agencies says:
“Certainly we do see buyers who want to be able to stroll out to the pub, and this can be a factor when house-hunting.”
Somehow, a warm, welcoming pub can be much more than just somewhere to enjoy a drink. It can be a genuine local focal point, and any area showing a strong sense of community is likely to prove a hit with potential buyers.
For example, the South Downs National Park turns 10 this year, and it’s a popular destination with those relocating. In the picturesque Downland village of Alfriston, not far from Eastbourne, the George and Star inns are hubs at the centre of local life.
Another national estate agent commented that facilities like shops and schools, and having superb surrounding countryside, were important matters to relocaters. But pubs could also be a key factor when deciding where to live.
This was borne out by the comments below one article about this phenomenon. One reader wrote:
“I live 80 yards from my local and it’s the hub of our corner of town. It’s one (if not the most important one) of the three main reasons why I bought my house.”
“When my local reopened, the value jumped compared with 12 months before.”
Yet another, Jenny in Kent, said:
“When we moved house a few years ago, we always tried out the local pub and had a walk round at different times of day to get a feel for an area. We seem to have struck lucky.”
She makes a good point – it’s worth checking out the local pub if you have time when house-hunting. And, remember, they can be great sources of information when you move into a new area.
The ‘Waitrose effect’
Interestingly, pubs are not the only establishments which can have a potential impact on property prices.
Back in 2017, it was reported that while living close to a national supermarket could potentially boost a property’s value by some £22,000, being near a branch of upmarket chain Waitrose could help add more than £36,000 to a home’s value.
That serves as a reminder that it’s always worth checking out local services when viewing a potential new home, and thinking about which facilities to promote to prospective buyers if you’re selling up.
How we can help
Kerry Newstead, Sales Director at Oakfield Estate Agents, comments:
“As we’ve said before, business in terms of sales has been brisk this spring and summer, across our three areas of Hastings, Eastbourne and Bexhill.
“We would definitely agree that a great local pub can potentially be highly effective both in increasing the speed of a transaction and getting an offer more quickly, and in enhancing value. It will never be the only factor in a decision, but it can certainly play a part.”
If you’re interested in buying or selling in one of our areas, we’d love to hear from you. While we have a great range of flats and houses on our books to offer buyers, we’re also always keen to hear from anyone with a place to sell.
Email us in the first instance, browse our listed properties, or use our handy online home value calculator.
What’s more, our branch staff have extensive local knowledge of our areas, so will be able to brief you on nearby services and facilities, including pubs. They’ll also be able to advise about what might make the best local selling points.